UNCA Catalog: Courses of Instruction
UNCA Catalog: Table of Contents

Economics (ECON)

Professor Larson (Chair); Professors Browning, Nickless, J. Sulock; Associate Professor Bell; Assistant Professors Konz, Mathews; Lecturer Bumgarner

The major in Economics is designed to provide students with the basic skills and knowledge necessary to understand the economic process within society. The department's objective is to provide students with an educational experience that results in greater intellectual capacity and prepares them for successful careers. Central to achieving this objective is close faculty-student interaction in and out of the classroom. Ample opportunity exists for promising students to develop individual courses.

Students may select one of five courses of study: General Economics, Environmental Economics, International Economics, Monetary Economics and Finance, and Economics with Teacher Licensure.

General Economics

A study of economics and its applications that enables students to create a course of study consistent with their interests and career goals.

1. Required courses in the major--34 hours, including: ECON 101, 102, 301, 302, 365, 380, 316 or 450, 480; 12 additional hours in Economics, at least 6 of which must be at the 300 or 400 level.
2. Required courses outside the major--4 hours: STAT 185.
3. Other departmental requirements--Senior demonstration of competency and oral competency are met by completion of ECON 480 with a grade of C or higher.
4. Suggested courses outside the major--Students with limited computer experience should take CSCI 107. Students interested in graduate school in economics should take MATH 191 and 192.

Concentration in Environmental Economics

An examination of issues and policies relating to the environment and natural resources from the perspective of economics.

1. Required courses in the major--34 hours, including: ECON 101, 102, 301, 302, 337, 345, 365, 380, 316 or 450, 480; one course from 245, 250 or 310; 3 additional hours in economics.
2. Required courses outside the major--13-15 hours: ENVR 130, 334, and one additional course in ENVR; STAT 185.
3. Other departmental requirements--Senior demonstration of competency and oral competency are met by completion of ECON 480 with a grade of C or higher.
4. Suggested courses outside the major--Courses that complement the concentration include: ENVR 241, 332, 383, 384. Students with limited computer experience should take CSCI 107. Students interested in graduate school in economics should take MATH 191 and 192.

Concentration in International Economics

An exploration of the international dimensions of economies in the context of current and historical political developments.

1. Required courses in the major--34 hours, including: ECON 101, 102, 250, 301, 302, 314, 350, 365, 380, 406 or 450, 480; 3 additional hours in Economics.
2. Required courses outside the major--7 hours: POLS 281; STAT 185.
3. Other departmental requirements--Senior demonstration of competency and oral competency are met by completion of ECON 480 with a grade of C or higher.
4. Suggested courses outside the major--Courses with significant international content that complement the concentration include: HIST 311; POLS 381, 383; SOC 350. Students with limited computer experience should take CSCI 107. Students interested in graduate school in economics should take MATH 191 and 192.

Concentration in Monetary Economics and Finance

An investigation of the monetary and financial aspects of the economy, including the workings of financial markets and institutions, monetary and fiscal policy, and government finance.

1. Required courses in the major--34 hours, including: ECON 101, 102, 215, 301, 302, 306, 365, 380, 480, and either 406 or 450; two courses from ECON 210, 305, 310 or 350.
2. Required courses outside the major--7 hours: ACCT 215; STAT 185.
3. Other departmental requirements--Senior demonstration of competency and oral competency are met by completion of ECON 480 with a grade of C or higher.
4. Suggested courses outside the major--Students with limited computer experience should take CSCI 107. Students interested in graduate school in economics should take MATH 191, 192.

Economics with Teacher Licensure

A study of economics consistent with teacher licensure requirements.

1. Required courses in the major--34 hours, including: ECON 101, 102, 301, 302, 365, 380, 316 or 450, 480; 12 additional hours in Economics, at least 6 of which must be at the 300 or 400 level.
2. Required courses outside the major--16 hours: HIST 101, 102; POLS 220; one course from ANTH 215, SOC 221 or 240; STAT 185.
3. Other departmental requirements--Senior demonstration of competency and oral competency are met by completion of ECON 480 with a grade of C or higher.
4. Suggested courses outside the major--Students with limited computer experience should take CSCI 107. Students interested in graduate school in economics should take MATH 191 and 192.

Students should review requirements found in the Education section of the catalog and must consult with the appropriate advisor in the Department of Education. In addition, those desiring middle school licensure must take HIST 315 and complete requirements for a second area of licensure.

Declaration of Major in Economics

Declaring a major in Economics requires the student to complete a Declaration of Major form that must be signed by the department chair. Before declaring a major, students must satisfy the LANG 102 and Library Research requirements.

Minor in Economics

18 hours in Economics: ECON 101, 102; 12 additional hours in Economics, at least 6 of which must be at the 300 level or above.

101 Principles of Macroeconomics (3)

A study of economic aggregates, including interaction of household, business, banking and government sectors; problems of unemployment and inflation; and an introduction to monetary and fiscal policy. Satisfies three hours of social science General Education requirement. No credit given to students who have credit for ECON 201. Fall and Spring.

102 Principles of Microeconomics (3)

A study of markets and how prices and output are determined. Topics include market structure analysis, input markets and public policy as it influences economic decisions. No credit given to students who have credit for ECON 200. Fall and Spring.

210 Financial Markets and Institutions (3)

An economic analysis of the financial sector of the economy. Topics addressed include: the structure, economic role and operation of major financial markets; the effect of individual, business, government and financial institution decisions on prices and yields of financial instruments; and the causes and consequences of financial innovation and deregulation. No credit given to students who have credit for ECON 305 or equivalent. Fall and Spring.

215 Money and Banking (3)

A study of commercial banking, the Federal Reserve System, the United States Treasury, how money influences the economy, demand for money and monetary policy. Prerequisite: ECON 101. Fall and Spring.

245 Land Economics (3)

An examination of the interdependence of land and people, with special emphasis on how people affect land. Issues considered include the determination of property values, property rights, land tenure, land conversion and government policies including land use planning, agricultural and environmental policies. Additional topics may include the geography of land use, sprawl, farmland preservation, the economics of food security and world food problems. Prerequisite: ECON 101 or 102. Fall.

250 International Economic Relations (3)

An introduction to international economics, with special attention to the history and politics of international economic relations. Topics include basic trade theory and policy, exchange rates, economic development issues, domestic and international political constraints on international economic policy and selected current issues. Prerequisite: ECON 101 or 102. Fall.

301 Intermediate Macroeconomics (3)

An extension of ECON 101, covering determination of aggregate economic performance, theories of consumption, investment, national income and output determination, inflation and unemployment. Macro-theory from classical to contemporary monetarist-fiscalist analysis. Prerequisites: ECON 101 and 102; or permission of instructor. Fall and Spring.

302 Intermediate Microeconomics (3)

An extension of ECON 102, covering theories of consumer behavior, production and cost, the firm and market organization, general equilibrium and economic welfare. Prerequisites: ECON 101 and 102; MATH 163, 167 or 191; or permission of instructor. May be taken for credit by students who have credit for ECON 302 (History of Economic Thought). No credit given to students who have credit for ECON 300. Fall.

305 Private Finance (3)

Introduction to analysis of risks in financial decision making, innovations in financial markets, determination of asset prices and yields, corporate equities, the stock market. Prerequisites: ECON 102 (or higher); ECON 210 or MATH 155 (or higher); and junior-level status. Spring.

306 Managerial Finance (3)

An analysis of financial decision making of firms, covering ratio analysis, capital budgeting and the management of funds. Prerequisite: ACCT 215; or permission of instructor. Fall and Spring.

310 Public Finance (3)

Analysis of economic principles underlying government intervention in a market economy, theories of bureaucratic behavior and the impact of collective choice arrangements (e.g., majority voting). Topics include pollution control, lotteries, income taxes, the national debt and social security. Prerequisite: ECON 101 or 102. Fall.

312 Government, Industry and the Law (3)

This course uses economic principles and methodology to consider opposing views on govern-ment regulation. Topics include business, environmental and consumer protection regulation. Prerequisite: ECON 101 or 102. See department chair.

314 Economic Growth and Development (3)

An examination of the determinants, constraints and implications of economic growth and development. The particular problems of low-income countries are explored, along with historical examples of economic transformation. Political, social and economic factors are considered. Prerequisite: ECON 101. Even years Spring.

316 Transaction Cost Economics (3)

An examination of the role played by transaction costs in the design and evolution of human institutions. Applications drawn from economics, environmental science, management, political science, and sociology show that many aspects of economic, political and social institutions can be understood as outcomes of transaction cost economizing. Relies heavily on readings from original sources. Prerequisite: ECON 101 or 102. Spring.

330 Labor Economics (3)

Application of economic principles to the analysis of labor markets. Includes analysis of labor supply, labor demand, human capital, public policy and labor market operation. Other topics may include economics of discrimination, impact of unions, comparative labor movements, human resource policy, and pensions and Social Security. Prerequisite: ECON 101 or 102. See department chair.

337 Environmental Economics and Policy (3)

An examination of economic and social costs/benefits of strategies to improve environmental quality; sources of and solutions to pollution; environmental management; and the relationships between economic growth and environmental quality. Prerequisites: ECON 102; ENVR 130; or permission of instructor. Fall.

341 Benefit-Cost Analysis (3)

Introduction to techniques for evaluating government projects. Topics include measurement of benefits and costs, and distributional consequences of policy. Interdisciplinary emphasis. Energy and environmental examples. Prerequisite: ECON 102. See department chair.

345 Economics of Natural Resources (3)

This course will examine the economics of resource use, conservation, allocation, scarcity and management for depletable and renewable resources. Topics such as economic growth, market structure and government policies will be studied. Prerequisite: ECON 102 or permission of instructor. Spring.

350 International Trade and Finance (3)

A survey of international economic theory, including trade, the balance of payments, international currency and capital transactions, and exchange rate determination. Topics include trade policy, exchange rate management, and open economy complications for domestic economic policy. Prerequisites: ECON 101, 102; or permission of instructor. No credit given to students who have credit for ECON 350 (International Trade) or ECON 351. Odd years Spring.

360 Mathematical Economics (3)

A study of mathematical techniques used in economic analysis. Prerequisites: ECON 101, 102; pre- or corequisite MATH 191. Spring.

361 U.S. Economic History (3)

An examination of the process of economic change in the United States, with an emphasis on the causes and consequences of economic growth. Topics include the economic causes of the Industrial Revolution, the economics of slavery, the changing role of government and the Depression of the 1930s. No credit given to students who have credit for ECON 261. Prerequisite: ECON 101 or 102. Even years spring.

365 Econometrics (3)

An introduction to inferential statistics relevant to the discipline. Focus is on regression analysis emphasizing the assumptions underlying the classical linear model. Prerequisites: ECON 101 or 102; STAT 185; or permission of instructor. Fall and Spring.

367 Statistical Proofs in Economics and Finance (1)

An examination of the theoretical basis of selected statistical formulas and concepts used in economics and finance. Highly recommended for students interested in graduate school. Prerequisite: ECON 365. See department chair.

380 Approaches to Research in Economics (1)

An examination of alternative approaches to the conduct of research in economics. The student will become familiar with the Undergraduate Research Program at UNCA and develop a proposal of research to be conducted in ECON 480. Prerequisite: junior or senior standing. (Grading is S/U.) Fall and Spring.

400 Internship (3)

Semesterlong internship with a participating host organization, usually in Western North Carolina. Open only to students who have declared a major or minor in economics. Prerequisites: 15 hours of economics with a minimum grade-point average of 2.5 in those courses. (Grading S/U.) See department chair.

406 Seminar in Financial Economics (3)

An application of financial theory to case problems. Emphasis on spreadsheets as decision-making tools. Issues include leasing decisions, capital budgeting, stock vs. bond financing and financial forecasting. Prerequisites: ACCT 215; ECON 306. Spring.

450 Seminar in Economics (3)

A critical examination of primary works that have figured in the development of economic theory and policy. May be taken once or repeated with variable content for a total of six hours. Prerequisite: ECON 301 or 302. Fall.

480 Research Seminar in Economics (3)

A seminar in which the student conducts supervised research in economics on a subject of personal interest. The methods, concepts and approaches employed will typically draw upon the student's major courses. Prerequisites: ECON 380; senior standing. Fall and Spring.

499 Undergraduate Research in Economics (1-6)

Independent research under the supervision of a faculty mentor. An IP grade may be awarded at discretion of instructor. May be repeated for a total of 6 hours credit. Fall and Spring.

171-6, 271-6, 371-6, 471-6 Special Topics in Economics (1-6)

Courses not otherwise included in the catalog listing but for which there may be special needs. May be repeated for credit as often as permitted and as subject matter changes. See department chair.

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